First-quarter retail earnings are coming to a close, and shoppers are still spending, but being more selective than ever.
A few weeks ago, actor Anne Hathaway went to a Bulgari party wearing a white Gap shirt dress that had been designed by the company's new creative director, Zac Posen. Critically, Gap dropped the $158 dress to consumers, and it sold out within hours. This combination of marketing and exclusive product drops is what Gap had long been lacking, and what competitors had already been doing.
The shift couldn't have come at a better time. Years into Nike's strategy to cut out wholesalers and sell directly to consumers, the retailer is realizing it went too far and is Denim is having a moment with shoppers. Search levels for denim are hitting peaks in a 20-year data set, particularly for categories like tops and dresses, according to a Morgan Stanley research note.on Thursday, as both earnings and revenue fell well short of expectations. It cut its full-year forecast and its shares plunged more than 20%, the stock's biggest single-day percentage decline ever.
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